Latest news with #NordicCountries
Yahoo
12-07-2025
- Business
- Yahoo
Europe's iPhone price gap: Where you'll pay the most and least
If you're buying an iPhone in Europe, how much does the price differ from one country to another? VAT rates, import taxes and currency strengths vary across Europe, and so do the costs of these phones. But, if we leave Turkey aside, differences in Europe aren't as dramatic as in other parts of the world. However, if you consider hourly wages, affordability varies much more widely. So, in which European countries are iPhone prices the highest and lowest? How do iPhone prices in Europe compare to those in other parts of the world, including in the United States? And how many hours do Europeans need to work to afford one? A report from Deutsche Bank Research Institute, titled "Mapping the World's Prices", compares iPhone 16 Pro (128GB) prices across 41 countries/markets. More than half of the studied markets are in Europe. iPhone 16 Pro prices range from around €903 in South Korea to roughly €1,854 in Turkey, the highest globally. Within the EU, prices vary from €1,107 in Greece to €1,231 in Sweden. Brazil (€1,559) and Egypt (€1,296) follow Turkey at the top of the iPhone price list. The report warns: 'Don't drop or lose your iPhone in Turkey, Brazil, Egypt, India or the Nordic countries. It could cost 30-100% more than in the US to replace.' In the EU, other Nordic countries follow Sweden, where the iPhone 16 Pro is the most expensive at €1,231. It costs €1,188 in Denmark and €1,175 in Finland. Norway, which is not an EU member, falls in between, with a price of €1,182. According to the report, VAT in these countries is around 25%, compared to 20% in many other European nations. Most Western European countries cluster around €1,145–€1,170. They include Portugal (€1,166), Italy and Ireland (both €1,157), as well as France, Belgium, and the Netherlands (all €1,147). Among Europe's five largest economies, the UK offers the cheapest iPhone 16 Pro at €1,095, followed by Germany (€1,119) and Spain (€1,138). Meanwhile, Switzerland —though not in the EU — has the lowest iPhone 16 Pro price in Europe overall, at €1,045. In the list, South Korea is the only country where the iPhone 16 Pro is cheaper than in the US, priced at €903 compared to €917 ($1,079). Several Asian and Arab countries also offer lower prices than many Western nations. To illustrate, the iPhone 16 Pro costs €1,226 in Saudi Arabia and €1,170 in the United Arab Emirates. In Japan, China, and Thailand, prices are even lower than in those Gulf countries. The iPhone Price Index, which sets the iPhone 16 Pro price in the US as 100, shows how much more or less the device costs in other countries relative to the US. Turkey is the only country where the iPhone 16 Pro costs more than double the US price, with an index score of 202. In Sweden, iPhone prices are 34% more expensive than in the US, while in the UK, they are 19% higher. In most EU countries, the iPhone 16 Pro is priced at roughly 25% above the US level. Turkey imposes a Special Consumption Tax (ÖTV) of 50% on smartphones, in addition to VAT and several other fees. These combined taxes significantly drive up the retail price, making Turkey the most expensive country to buy an iPhone 16 Pro on the list. According to a social media post by tax expert Ozan Bingöl, several layered taxes and fees significantly inflate the price of an iPhone in Turkey. First, the Ministry of Culture charges a 1% fee on the base price, then there is a a 12% "banderole" charge to support the public broadcaster TRT. Then, a 50% Special Consumption Tax (ÖTV) is applied on top of those amounts. Finally, a 20% VAT is levied on the entire amount — including all previous taxes and fees, not just the phone. In Bingöl's example from March 2024, the base (pre-tax) price of an iPhone was 53,040 Turkish lira, but after all taxes and fees, the final retail price reached 107,999 lira — more than double the original price. This reflects a total effective tax rate of 103.4%. This aligns with the 202% iPhone Price Index relative to the US. Of course, the retail price of an iPhone, including taxes, does not reflect how affordable it is for consumers. Affordability depends on income levels, which vary significantly across Europe. For example, iPhone Index 2024 estimates how many days the average person needs to work to afford an iPhone 16 Pro. The results range from just 4 days in Switzerland to 72.9 days in Turkey. Within the EU, the range spans from 6.1 days in Luxembourg to 26.6 days in Greece. Hourly wages and salary levels further show these disparities. According to Eurostat, the average hourly wage in the EU in 2024 was €25.20, ranging from €9.20 in Bulgaria to €48.40 in Luxembourg, with Denmark close behind at €43.60. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10-07-2025
- Business
- Yahoo
Europe's iPhone price gap: Where you'll pay the most and least
If you're buying an iPhone in Europe, how much does the price differ from one country to another? VAT rates, import taxes and currency strengths vary across Europe, and so do the costs of these phones. But, if we leave Turkey aside, differences in Europe aren't as dramatic as in other parts of the world. However, if you consider hourly wages, affordability varies much more widely. So, in which European countries are iPhone prices the highest and lowest? How do iPhone prices in Europe compare to those in other parts of the world, including in the United States? And how many hours do Europeans need to work to afford one? A report from Deutsche Bank Research Institute, titled "Mapping the World's Prices", compares iPhone 16 Pro (128GB) prices across 41 countries/markets. More than half of the studied markets are in Europe. iPhone 16 Pro prices range from around €903 in South Korea to roughly €1,854 in Turkey, the highest globally. Within the EU, prices vary from €1,107 in Greece to €1,231 in Sweden. Brazil (€1,559) and Egypt (€1,296) follow Turkey at the top of the iPhone price list. The report warns: 'Don't drop or lose your iPhone in Turkey, Brazil, Egypt, India or the Nordic countries. It could cost 30-100% more than in the US to replace.' In the EU, other Nordic countries follow Sweden, where the iPhone 16 Pro is the most expensive at €1,231. It costs €1,188 in Denmark and €1,175 in Finland. Norway, which is not an EU member, falls in between, with a price of €1,182. According to the report, VAT in these countries is around 25%, compared to 20% in many other European nations. Most Western European countries cluster around €1,145–€1,170. They include Portugal (€1,166), Italy and Ireland (both €1,157), as well as France, Belgium, and the Netherlands (all €1,147). Among Europe's five largest economies, the UK offers the cheapest iPhone 16 Pro at €1,095, followed by Germany (€1,119) and Spain (€1,138). Meanwhile, Switzerland —though not in the EU — has the lowest iPhone 16 Pro price in Europe overall, at €1,045. In the list, South Korea is the only country where the iPhone 16 Pro is cheaper than in the US, priced at €903 compared to €917 ($1,079). Several Asian and Arab countries also offer lower prices than many Western nations. To illustrate, the iPhone 16 Pro costs €1,226 in Saudi Arabia and €1,170 in the United Arab Emirates. In Japan, China, and Thailand, prices are even lower than in those Gulf countries. The iPhone Price Index, which sets the iPhone 16 Pro price in the US as 100, shows how much more or less the device costs in other countries relative to the US. Turkey is the only country where the iPhone 16 Pro costs more than double the US price, with an index score of 202. In Sweden, iPhone prices are 34% more expensive than in the US, while in the UK, they are 19% higher. In most EU countries, the iPhone 16 Pro is priced at roughly 25% above the US level. Turkey imposes a Special Consumption Tax (ÖTV) of 50% on smartphones, in addition to VAT and several other fees. These combined taxes significantly drive up the retail price, making Turkey the most expensive country to buy an iPhone 16 Pro on the list. According to a social media post by tax expert Ozan Bingöl, several layered taxes and fees significantly inflate the price of an iPhone in Turkey. First, the Ministry of Culture charges a 1% fee on the base price, then there is a a 12% "banderole" charge to support the public broadcaster TRT. Then, a 50% Special Consumption Tax (ÖTV) is applied on top of those amounts. Finally, a 20% VAT is levied on the entire amount — including all previous taxes and fees, not just the phone. In Bingöl's example from March 2024, the base (pre-tax) price of an iPhone was 53,040 Turkish lira, but after all taxes and fees, the final retail price reached 107,999 lira — more than double the original price. This reflects a total effective tax rate of 103.4%. This aligns with the 202% iPhone Price Index relative to the US. Of course, the retail price of an iPhone, including taxes, does not reflect how affordable it is for consumers. Affordability depends on income levels, which vary significantly across Europe. For example, iPhone Index 2024 estimates how many days the average person needs to work to afford an iPhone 16 Pro. The results range from just 4 days in Switzerland to 72.9 days in Turkey. Within the EU, the range spans from 6.1 days in Luxembourg to 26.6 days in Greece. Hourly wages and salary levels further show these disparities. According to Eurostat, the average hourly wage in the EU in 2024 was €25.20, ranging from €9.20 in Bulgaria to €48.40 in Luxembourg, with Denmark close behind at €43.60. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10-07-2025
- Business
- Yahoo
Europe's iPhone price gap: Where you'll pay the most and least
If you're buying an iPhone in Europe, how much does the price differ from one country to another? VAT rates, import taxes and currency strengths vary across Europe, and so do the costs of these phones. But, if we leave Turkey aside, differences in Europe aren't as dramatic as in other parts of the world. However, if you consider hourly wages, affordability varies much more widely. So, in which European countries are iPhone prices the highest and lowest? How do iPhone prices in Europe compare to those in other parts of the world, including in the United States? And how many hours do Europeans need to work to afford one? A report from Deutsche Bank Research Institute, titled "Mapping the World's Prices", compares iPhone 16 Pro (128GB) prices across 41 countries/markets. More than half of the studied markets are in Europe. iPhone 16 Pro prices range from around €903 in South Korea to roughly €1,854 in Turkey, the highest globally. Within the EU, prices vary from €1,107 in Greece to €1,231 in Sweden. Brazil (€1,559) and Egypt (€1,296) follow Turkey at the top of the iPhone price list. The report warns: 'Don't drop or lose your iPhone in Turkey, Brazil, Egypt, India or the Nordic countries. It could cost 30-100% more than in the US to replace.' In the EU, other Nordic countries follow Sweden, where the iPhone 16 Pro is the most expensive at €1,231. It costs €1,188 in Denmark and €1,175 in Finland. Norway, which is not an EU member, falls in between, with a price of €1,182. According to the report, VAT in these countries is around 25%, compared to 20% in many other European nations. Most Western European countries cluster around €1,145–€1,170. They include Portugal (€1,166), Italy and Ireland (both €1,157), as well as France, Belgium, and the Netherlands (all €1,147). Among Europe's five largest economies, the UK offers the cheapest iPhone 16 Pro at €1,095, followed by Germany (€1,119) and Spain (€1,138). Meanwhile, Switzerland —though not in the EU — has the lowest iPhone 16 Pro price in Europe overall, at €1,045. In the list, South Korea is the only country where the iPhone 16 Pro is cheaper than in the US, priced at €903 compared to €917 ($1,079). Several Asian and Arab countries also offer lower prices than many Western nations. To illustrate, the iPhone 16 Pro costs €1,226 in Saudi Arabia and €1,170 in the United Arab Emirates. In Japan, China, and Thailand, prices are even lower than in those Gulf countries. The iPhone Price Index, which sets the iPhone 16 Pro price in the US as 100, shows how much more or less the device costs in other countries relative to the US. Turkey is the only country where the iPhone 16 Pro costs more than double the US price, with an index score of 202. In Sweden, iPhone prices are 34% more expensive than in the US, while in the UK, they are 19% higher. In most EU countries, the iPhone 16 Pro is priced at roughly 25% above the US level. Turkey imposes a Special Consumption Tax (ÖTV) of 50% on smartphones, in addition to VAT and several other fees. These combined taxes significantly drive up the retail price, making Turkey the most expensive country to buy an iPhone 16 Pro on the list. According to a social media post by tax expert Ozan Bingöl, several layered taxes and fees significantly inflate the price of an iPhone in Turkey. First, the Ministry of Culture charges a 1% fee on the base price, then there is a a 12% "banderole" charge to support the public broadcaster TRT. Then, a 50% Special Consumption Tax (ÖTV) is applied on top of those amounts. Finally, a 20% VAT is levied on the entire amount — including all previous taxes and fees, not just the phone. In Bingöl's example from March 2024, the base (pre-tax) price of an iPhone was 53,040 Turkish lira, but after all taxes and fees, the final retail price reached 107,999 lira — more than double the original price. This reflects a total effective tax rate of 103.4%. This aligns with the 202% iPhone Price Index relative to the US. Of course, the retail price of an iPhone, including taxes, does not reflect how affordable it is for consumers. Affordability depends on income levels, which vary significantly across Europe. For example, iPhone Index 2024 estimates how many days the average person needs to work to afford an iPhone 16 Pro. The results range from just 4 days in Switzerland to 72.9 days in Turkey. Within the EU, the range spans from 6.1 days in Luxembourg to 26.6 days in Greece. Hourly wages and salary levels further show these disparities. According to Eurostat, the average hourly wage in the EU in 2024 was €25.20, ranging from €9.20 in Bulgaria to €48.40 in Luxembourg, with Denmark close behind at €43.60. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
04-07-2025
- Business
- Yahoo
Which countries have the highest and lowest pensions in Europe?
Pensions are the main source of income for older people in Europe, according to the OECD's Pension at a Glance 2023 report. In many European countries, public transfers—such as state pensions and benefits—account for over 70% of older adults' total equivalised gross household income, exceeding 80% in some cases. So, how much do Europeans receive in old-age pensions? What is the average pension expenditure per beneficiary? And how do pension levels compare across Europe when adjusted for purchasing power? According to Eurostat, in 2022, the average pension expenditure per beneficiary for old-age pensions was €16,138 in the EU. This equals approximately €1,345 per month when divided over 12 months. It ranged from €3,611 in Bulgaria to €31,385 in Luxembourg within the EU. When EFTA and EU candidate countries are included, the range widens—from €1,648 in Albania to €35,959 in Iceland. The average old-age pension per beneficiary also exceeded €30,000 in two Nordic countries: Norway and Denmark. It was also significantly above the EU average in Sweden (€22,436) and Finland (€21,085). Related Eurozone inflation falls below ECB 2% target in May: Rate cut in sight Besides Albania, EU candidate countries have the lowest average pensions. These include Turkey (€2,942), Bosnia and Herzegovina (€3,041), Serbia (€3,486), and Montenegro (€3,962). Montenegro ranks just above Bulgaria, but only by a small margin. These are annual figures, not monthly, demonstrating the wide gap between the lowest and highest pension levels in Europe. The EU's 'Big Four' economies ranked consecutively, all above the EU average. Italy had the highest average pension among them at €19,589, followed by France (€18,855), Spain (€18,100), and Germany (€17,926). Related Meet the CEO trying to 'increase the net worth of an entire generation' Average pension figures show that: There's a strong East-West divide, with Western and Nordic Europe offering much higher pension benefits. The Southern European countries generally fare better than Eastern ones but still trail behind Northern Europe. The poorest performers are concentrated in the Balkans and Eastern EU, particularly among EU candidate countries. Inequalities in average pensions are significantly narrower when measured in purchasing power standards (PPS) compared to nominal terms. For example, within the EU, the ratio between the highest and lowest average pension is 8.8 in nominal terms, but it drops to 3.5 in PPS, reflecting differences in living costs. In the EU, average pension expenditure per beneficiary ranged from 5,978 PPS in Slovakia to 21,162 PPS in Austria. When non-EU countries are included, Albania had the lowest figure at 3,019 PPS. Turkey ranked significantly higher in PPS terms, with 8,128 PPS—placing it above several EU member states. All Nordic countries are above the EU average in pension spending, with some ranking among the highest in Europe. Related Living in debt? Savings expert shares secret to 'spring clean your finances' Where in Europe are workers losing ground as taxes rise faster than wages? In euro terms, the average pension fell in only three countries in 2022 compared to 2021—and by less than 5%. These were Turkey, Ireland, and Greece. In Turkey, the decline was primarily due to a sharp depreciation of the national currency, which affected the euro value of pensions. In contrast, Bulgaria saw the largest increase at 33%, followed by Czechia with 16%. Pension growth also exceeded 10% in Latvia, Lithuania, Montenegro, and Romania. Old-age pensions are periodic payments intended to i) maintain the income of the beneficiary after retirement from paid employment at the legal or standard age or ii) support the income of elderly people. According to the 2024 Pension Adequacy Report, jointly prepared by the European Commission and the Social Protection Committee, EU countries are taking further steps to safeguard adequacy, but future adequacy remains under pressure. Pension replacement rates for a given career are projected to decline over the next four decades. The risk of poverty and social exclusion among older people has continued to rise since 2019, mainly driven by increasing relative income poverty. In 2022, more than one in five people aged 65 and over in the EU—about 18.5 million individuals—were at risk of poverty or social exclusion. This number is growing due to both the rising poverty rate and the ageing population. Across much of Europe, pension income falls well below pre-retirement earnings. This gap makes it hard for many older adults to maintain their standard of living after they stop working. Related From gross pay to take-home: The real salary picture across Europe The report shows that older women face higher poverty risks than men in every EU country. On average, women in the EU receive 26.1% less pension income than men, and 5.3% of women receive no pension at all. These gaps are rooted in gender pay disparities, shorter or interrupted careers, and a higher incidence of part-time work among women.
Irish Times
02-07-2025
- Politics
- Irish Times
Nordic states may commit to deportation hub scheme, says Danish minister
Nordic countries concerned about high levels of migration could join together to set up deportation sites outside the European Union, Danish immigration minister Kaare Dybvad has said. Mr Dybvad said Asylum seekers whose claims for protection were rejected would be sent to the sites. EU governments are debating the controversial idea of sending people whose asylum claims have been rejected to 'return hubs' outside the bloc's borders, until they can be repatriated. The proposal to create deportation hubs, part of an increasingly rightward shift in EU migration policy, has been fiercely criticised by Amnesty International and other humanitarian organisations. Mr Dybvad said he was hopeful EU states would back the idea. However, a coalition of capitals could move forward on their own, he said. 'I'd rather have it on a European level, but if that's not possible I think for example in the Nordic countries we could agree on this kind of arrangement,' he said. The proposal effectively envisages countries in North Africa or the western Balkans hosting deportation sites as part of an agreement made with the EU. Denmark's centre-left prime minister Mette Frederiksen has adopted a hard line on asylum, which sets the tone in the government made up of her Social Democrats party and its two liberal coalition partners. Speaking to journalists in Copenhagen, Mr Dybvad said any deportation facilities the EU set up in countries outside its borders should not become 'prisons'. Mr Dybvad said return hubs would deter migrants from travelling to Europe to seek asylum if their claim for protection had little chance of success. The Danish government recently called for an 'open-minded' debate about rulings coming from the European Court of Human Rights, with the backing of eight other EU states, including Italy, Poland, Austria and Belgium. A joint letter from the group criticised court decisions that had made it harder for countries to expel 'foreign criminals'. Denmark and other governments were looking for more leeway to deport migrants who had committed 'violent crimes,' Mr Dybvad said. Separately, the Danish government is stepping up efforts to encourage some of the 45,000 refugees who fled the Syrian civil war to return home, now that the brutal regime of Bashar al-Assad has collapsed. Officials have devised a scheme to offer families tens of thousands of euros to relocate back to Syria. About 800 or 900 families had previously shown some interest in the scheme over recent years, said the immigration minister. Denmark, the Netherlands, Austria and several other states have been keen for Syrian refugees in Europe to be encouraged to move home. Denmark is assessing which regions in Syria could be considered safe for people to return to, Mr Dybvad said.
